While you might pay any amount of money for relief in the middle of a migraine headache, patients and insurance companies alike have their ceilings. That’s why it’s a problem when drug companies take old components and combine them into a “new” drug that isn’t so new at all… if you had just bought those pills separately. [More]
This morning, drug company Mylan announced that it will soon introduce a lower-cost (but still not cheap) generic version of its popular EpiPen emergency allergy treatment. In response, one senator who has been critical of Mylan’s actions says more must be done to make the life-saving drug available. [More]
Facing criticism from patients, consumer advocates, lawmakers, and physicians about huge price increases on the EpiPen emergency allergy treatment, drugmaker Mylan today announced it will introduce a generic version of the epinephrine auto-injector for half the current sticker price of the name-brand drug. [More]
Imagine that Bob and Mary are the only two kids in town allowed to sell lemonade. They could try to compete against each other, potentially resulting in lower prices, improved juice, or better service… or Mary could say to Bob, “How’s about you pay me some money so I don’t exercise my option to sell lemonade?” That means the price for lemonade is whatever Bob says it is, and he’s encouraged to keep it high because he’s paying some of that money out to Mary. Now imagine this isn’t about lemonade, but about prescription drugs. [More]
Amazon really, really wants to be your everything store. They do tech, they do digital goods, they do groceries, they even do same-day delivery. So perhaps it seems inevitable that they’re no longer just interested in selling other people’s stuff, but coming up with their own house brand for everyday items too.
Costco members know they can often get a decent price on name-brand kitchen staples by shopping in bulk at the warehouse store. But if you’ve been ignoring the company’s store-brand Kirkland Signature line of products, you might be passing up on a chance to save even more without sacrificing quality. [More]
Biotech drugs — which are generally derived from a living organism, as opposed to traditional purely chemical medications — are currently among the most expensive medicines available. But today, the Food and Drug Administration issued its first approval of a drug that is “biosimilar” to an existing biotech medication; a development that could possibly result in billions of dollars in savings. [More]
In Canada, you can buy a tube of brand-name prescription cold sore cream Zovirax for around $50. Its generic equivalent (acyclovir) is half that price. And even here in the states you can find generics acyclovir pills and ointments for a reasonable price, so why does what is effectively the same product sell for more than $2,500 in the U.S.? [More]
Imagine for a moment the tale of two friends, Jim and Joe. Jim takes Gleemonex, which makes it feel like it’s 72 degrees in your head all the time. Joe takes a generic form of the drug, which we’ll call walmonex. If the folks who make Gleemonex realize there’s a problem with the drug, they can immediately slap a warning on the product before getting FDA approval, but if the makers of the walmonex discover that same problem, they currently have to wait for the FDA and the brand-name drug makers to review the issue. This loophole is, quite obviously, a bad thing for consumers. So it’s good news that the FDA is now looking to close it. [More]
When I was a child, many of the items in my kitchen cupboard were in plain white containers with red and black block lettering, so I learned early not to be a brand snob — with a couple of exceptions. I am one of those people that turn into a sour-faced 4-year-old whenever I find my only ketchup and mayonnaise options are generic store-brand versions. But my cohorts at Consumer Reports claim that there are comparable, less expensive generics available for these and other pantry staples. [More]
For everyday over-the-counter drugs like painkillers or allergy medicine, do you pick up the brand name, or a generic? Even if the inactive ingredients and binders are slightly different, the brand-name and store-brand meds that sit side-by-side on the shelf should have the same effects. One costs a lot less. So why does anyone buy name-brand over-the-counter drugs? [More]
When a generic version of a drug comes on the market, the holder of the brand-name drug’s patent stands to see a steep drop in sales as many customers switch to the lower-price option. Thus, some companies will go to great lengths to delay the release of generics. One such method, dubbed “pay-for-delay,” involves the patent-holder suing manufacturers of generics and then settling for millions of dollars with the agreement that the generic suppliers will hold off on releasing their product. Today, the U.S. Supreme Court ruled that the Federal Trade Commission has the right to challenge these sorts of deals. [More]
After the U.S. Food and Drug Administration learned about potentially fraudulent work done on behalf of pharmaceutical companies by a contract research firm in Texas, they didn’t pull the drugs off the market. You might think, though, that they might hold off on approving new drugs based on testing that came from that lab. You would be wrong.
The Food and Drug Administration has given the go ahead to seven companies to begin producing Plavix in generic form. As someone who has to shell out over $100 for about 10 pills to quarter and force an unwilling, yet sick cat, to take, I am pretty darn excited about this whole situation.
There are numerous ways for makers of pricey brand-name drugs to delay the release of generic copies and hold on to the market for even a few months longer. They could make slight changes to the doses or even go so far as to buy a company that supplies a needed ingredient. But one pharmaceutical company is taking a new approach to putting off the release of generic versions — etching an additional score into the pill’s surface.
Had David’s wife not probed closely, she could have ended up paying $228 for generic Fosamax that could have been easily gotten for $24. He’s sharing the story as a cautionary tale so that other people who are getting their maintenance prescriptions covered by their employer’s insurance don’t end up overpaying for generics.
Reddit user TheKarateKid says he emailed a major drug company asking why their $500 version of a $10 generic is worth the $490 markup. The drug company rep accidentally emailed the customer back this message intended for her colleague.
Cheap generic drugs are good for when you’re between jobs, between insurance, or if you’ve just got a prescription drug plan that is costing you too much money. You might find, as Wise Bread did, that a generic version of your medication actually causes fewer side effects in addition to being more cost-effective.